Energy Market Liberalization Project- Schedule will be submitted to the Government Approval Soon

Within the framework of the liberalization of Armenia’s energy market and interstate trade promotion activities the Project-Schedule developed jointly with USAID experts will be presented for the Government approval till May 31, 2017. It plans gradual liberalization of energy market which will be implemented in 3-4 years. This will let to transfer from one market form to another one with liberalization elements. It is expected that it will have a favorable impact on both the reduction of the market expenses of members and tariff formation.

According to Hayk Badalyan, the head of Energy Department of the Staff of the Ministry of Energy and Natural Resources of RA, the initiative to form a new energy domestic market in Armenia is due to domestic market demands, the need of its improvement, as well as to use effectively the opportunities of trade with Georgia. According to him, cross-border trade gives mutual opportunities and helps to improve the productivity of domestic market.

According to Hayk Badalyan, also the work is underway to create legal conditions to promote energy market liberalization and interstate trade and make amendments and appendixes in the law “On Energy” to clarify the functions of the Ministry of Energy and Natural Resources of RA, Public Services Regulatory Commission of RA and other state bodies. Both market liberalization project-schedule and the draft of making amendments and appendixes in the law “On Energy” have been discussed with the market members. The documents have been sent to the interested agencies.

“After summarizing the comments and suggestions, the final version will be submitted to the Government approval till the end of the next month”, said H. Badalyan.